FACES 2
With the loan of EUR 240,000 new local partner FACES aims to support the financing of around 100 microenterprises in Ecuador, with a greater focus on rural sectors and preferably in agricultural activities. **please note: this project contains an exchange rate risk EUR/USD)**
€240,000
5.25%
24 meses
6 meses
USD
MonedaImporte | €240,000 |
Interés | 5.25% |
Vencimiento | 24 meses |
Reembolsos | 6 meses |
Moneda | USD |
Resumen
General information:
Fundación de Apoyo Comunitario y Social del Ecuador, also called FACES, is a NGO which was set up in 1991. Its mission is to support entrepreneurs with microloans. FACES is a non-regulated institution, but self-regulated according to the same guidelines.
FACES is a non-governmental, non-profit development institution that has been contributing to social and economic improvement in the southern (Loja, Zamora Chinchipe and El Oro) and northern (Pichincha) regions of the country since inception. Its main office is in the city of Loja, the provincial capital of Loja.
Loan purpose
With the funding, FACES aims to support the financing of microenterprises, with a greater focus on rural sectors and preferably in agricultural activities. The main area served by Fundación FACES is the rural and peri-urban areas.
There is a grace period of 12 months, which means that the first repayment takes place after 1 year (in stead of 6 months).
The most relevant activity for the institution is to continue to strengthen microfinance as an alternative for the development alternative for poor populations, who require financial and technical support to grow their microenterprises and technical support in order to grow their microenterprises and to orient them more securely towards the market
The purpose of the project and external financing is to continue facilitating the population's access to human, technical and economic resources for its growth. and economic resources for their personal growth and family personal growth and family improvement by strengthening micro-enterprises and productive chains.
Fundación FACES serves a unique market segment: microentrepreneurs with trade, processing, service, and agricultural and livestock activities, located in urban, peri-urban, and rural areas. 55% of the customer portfolio is located in rural areas, 45% is used to finance commerce, transformation and service activities.
The benefit for microentrepreneurs is to be able to access financing at a competitive cost. Fundación FACES does not make credit more expensive by charging the client a reserve or an initial deposit, nor do we make credit more expensive by charging for medical assistance programs or medical insurance; we are not a sales channel for insurance companies or medical assistance companies, In addition, we are very competitive in the response time to our customers, the credit is disbursed from the day of the survey of the information in the business in a period of 24-48 hours maximum, we provide free technical assistance workshops related to the activity of the microentrepreneur and we also do social responsibility workshops.
We are flexible in terms of documentation, agile in terms of response time, we are socially responsible with our clients, and we are competitive in terms of the fee that the client pays for his credit.
Mission
"To contribute to the fight against poverty and unemployment in the country's economy, supporting micro-entrepreneurs with economic and technical resources, so that they can improve their entrepreneurial potential and reach levels of personal growth and empowerment”
Vision
"Faces leads the development of microenterprises in Ecuador, with a socially responsible management system and recognized for the quality of its service and innovative products."
Nombre de la empresa | FACES 2 |
Director general | Luis Palacios Burneo |
Fundado | 1991-01-01 |
Ubicación | Loja |
Sector | Agricultura |
Volumen de negocio | $1,940,000 |
Empleados | 223 |
Calificación de crédito | 3.40 |
Impacto
FACES es una institución de microfinanzas sin fines de lucro en Ecuador con un fuerte enfoque de género. La organización trabaja arduamente para servir a emprendedoras y emprendedores en áreas agrícolas y rurales del país, que tienen grandes dificultades para acceder a financiación tradicional.
Ecuador cuenta con aproximadamente 900,000 empresas, el 99% de las cuales son microempresas y pymes, las cuales generan el 60% de todos los empleos.
A través de sus 19 sucursales, FACES actualmente atiende a pequeños empresarios en 4 provincias ofreciendo préstamos individuales y grupales. Las provincias en las que operan se encuentran entre las más pobres de Ecuador, con casi la mitad de la población viviendo por debajo de la línea de pobreza.
Ecuador es líder mundial en empresas lideradas por mujeres. Sin embargo, el acceso a financiamiento es más limitado para ellas que para empresas similares lideradas por hombres. FACES se enfoca en abordar esta brecha de género identificada en el sector financiero. Actualmente el 50,55% de las microempresas financiadas por FACES están administradas por mujeres, que operan principalmente en la economía informal.
Investigaciones demuestran que las mujeres en mercados emergentes invierten 90 centavos de cada dólar adicional que ganan en sus familias y entornos inmediatos. Esto se traduce en una mejor educación, atención médica, calidad de vida y, en última instancia, en crecimiento económico.
Objetivos de Desarrollo Sostenible (ODS)
Invirtiendo en este proyecto contribuyes a los siguientes Objetivos de Desarrollo Sostenible:
ODS 1: Fin de la pobreza
ODS 5: Igualdad de género
ODS 8: Trabajo decente y crecimiento económico
ODS 10: Reducción de las desigualdades
Lee más acerca del impacto que puedes generar a través de Lendahand y los ODS en nuestra página de impacto.
Related blog posts
- There’s more to learn about FACES as a new investment opportunity in their introduction.
- Did you know female entrepreneurs are essential for a powerful economy?
- Investor and guest blogger Marlous wrote an introduction for you to learn more about gender lens investing.
- Want to learn more about how financial inclusion can thrive entrepreneurship? Read here.
- Have a look at the many other microfinance institutions in our portfolio.
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